Corn, Soybean and Wheat Inspections as Expected

Posted on 12/03/2018 10:06 AM

USDA’s Weekly Grain Export Inspections

Week Ended Nov. 29, 2018

Corn

Actual (MT)

1,035,255

Expectations (MT)

700,000-1,200,000

Comments

Inspections were down 146,778 MT from the week prior, and were just above the top end of the pre-report range of estimates.  Inspections are running 80.1% ahead of year-ago, versus 79.9% ahead of year-ago last week. USDA's 2018-19 export forecast of 2.450 billion bu. is up 0.5% from the previous marketing year.

Wheat

Actual (MT)

472,665

Expectations (MT)

300,000-500,000

Comments

Export inspections were down 185,063 MT from last week and the tally was below the bottom end of expectations. Inspections are running 17.2% behind the 2017-18 marketing year, versus 18.6% behind last week. USDA projects exports in 2018-19 at 1.025 billion bu., up 13.8% from the previous marketing year.

Soybeans

Actual (MT)

1,041,666

Expectations (MT)

500,000-1,250,000

Comments

Export inspections were down 81,381 MT from last week and at the top end of the range of pre-report expectations. Inspections for 2018-19 are running 42.0% behind year-ago, compared with 42.3% behind last week. USDA projects exports in 2018-19 at 1.900 billion bu., down 10.8% from year-ago.

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